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U.S. steel purchases Stelco in $1.1 billion deal.

Publication: Metal Center News
Publication Date: 01-SEP-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: U.S. steel purchases Stelco in $1.1 billion deal.(METAL INDUSTRY NEWS)

Article Excerpt
UNITED STATES STEEL CORE has agreed to acquire Canadian steelmaker Stelco, strengthening its position in the North American flat-rolled market. U.S. Steel will pay $36.36 per share to Stelco shareholders in a transaction valued at $1.1 billion.

The acquisition by U.S. Steel will give it an annual capacity of 33 million net tons of raw steel.

[ILLUSTRATION OMITTED]

"From the increased utilization of our Minnesota Ore Operations through the conversion of slabs and hot-bands produced at Stelco by our other finishing facilities, this...

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